Gibraltar is a growth-oriented manufacturing conglomerate in the midst of simplifying its portfolio and repositioning its core businesses for scale. In June ROCK announced it was exiting its Renewables business. We estimate Residential will comprise 71% and 76% of 2025 sales and operating income post the divestiture. ROCK has also signaled its intent to deploy capital towards growing its existing Building Products business unit (one of three business units housed within Residential). For 3Q:25, we model adjusted EPS of $1.22, up 6% year over year, on a 16% rise in adjusted sales to $317 million, with growth in sales and profits driven by inorganic contributions in Residential and Agtech. Beyond the quarter, we forecast adjusted EPS advances of 13% in 2025 and 7% in 2026. We note our forecast does not embed any unannounced acquisitions, nor does it include the additional balance sheet cash infusion the balance sheet is likely to receive with the pending sale of Renewables. ROCK held no debt and $43 million in cash as of 2Q:25, supporting our moderate risk rating. Our $83 price target continues to be based on 18x our 2026 EPS estimate of $4.60.